DIY Power Tools Market 2017-2021

Overview of the global DIY power tools market

Market research analysts at Technavio predict that the global DIY power tools market will grow steadily at a CAGR of more than 4% by 2021. Lithium-ion (Li-ion) battery powered cordless tools offer various advantages including high energy density and less sensitive to damage. Additionally, these power tools are also lightweight, free from confines of design and shape, and have the longest charge life and are easily rechargeable. As a result, there is an increasing preference towards these tools over nickel-metal hydride (NiMH) and nickel-cadmium (NiCad) battery-powered tools. According to this market research and analysis, this growing demand for cordless power tools with Lithium-ion batteries will be one of the primary growth factors for this market.

Owing to high inflation rates and fluctuations in the economy, organizations across the world have the need to increase productivity with maximum cost savings. Power tools manufactured with high power consumption have high cost as compared to other batteries. Consequently, vendors in this market have started focusing on manufacturing power tools with Li-ion batteries as these have high density, lower self-discharge, and negligible cost of maintenance. As a result, the coming years will witness the emergence of energy-efficient power tools which will be one of the key trends that will gain traction in the DIY power tools market in the coming years.

Competitive landscape and key vendors